Goldbacks is a form of currency that combines the value of gold with the convenience of paper money.

Now why Goldbacks is used because it has some benefits why using it.it provide a sense of security and stability.
Goldbacks are physical gold, and are tied to the value of gold and are less to currency devaluation.
Goldbacks also facilitate international transactions and are widely recognized.
Goldbacks can also serve as a store of value so that individuals can hold assest that can be easily modify into goods and services.

One can still benefits the stability and security from gold while still enjoying the convenience of a paper currency.